Lots of self-employed people assume that they will need an accountant to help them to manage their finances and submissions to HMRC, but is that really the case? No, definitely not according to Elaine Clark of CheapAccounting.co.uk and TaxBootCamp. Now, Elaine is herself a Chartered Accountant and her business includes providing accountancy services to self-employed clients, so why is she so in favour of the DIY approach? We had to find out more, and Elaine shares loads of brilliant tips including:
- Don’t be put off by the unnecessarily complicated language of accounts, it is far simpler in reality!
- Accounting is simply knowing your income, expenditure and what is left over;
- Choosing the right tools at the outset will streamline the process for you, often just a good banking app is sufficient;
- You can manage most of your finances from your smartphone whilst on the move;
- Whilst an accountant will be able to help with your accounts, YOU are still responsible for your financial position.
About Elaine Clark
Elaine is a chartered accountant with some 40 years experience of helping self-employed people and businesses understand their financial position. In 2007 she launched the controversially name (loved by clients, hated by the profession) CheapAccounting.co.uk and hasn’t looked back. During lockdown Elaine developed TaxBootCamp.co.uk as she believes that accounts and tax should be core life skills, and she is on a mission to give people the skills they need to manage their own accounts.